Why Is The Failure Percentage In The Network Marketing Industry So High?
I got to thinking about this yesterday and thought I'd write a sudden post regarding my view of why I think the network marketing failure rate is so high...Why Do People Give Up?
In my humble opinion, network marketing gives tremendous opportunity for wealth creation for the normal person. The entry charge to begin your online business is cheap and the upside is superb. The low entry fee is why many people who do not have the entrepreneurial drive get included. They are suckered in by claims by companies of making stalks of money while the marketer is either sleeping or on the beach.
To thrive online, it takes work. I know...that's a word no one wish to hear! To give you an example, I received an email from one of my downline members lately who had received an email from his downline member. His downline member was wondering if the program she had joined was truly going to work since she hadn't gotten any sign-ups in her 1 day of marketing! She was feeling that the program could be a scam! This, unluckily, is the outlook of the majority of "network marketers" and adds highly to the 97% failure rate and high abrasion rates that we always hear about. This failure rate is the same with people commencing off-line businesses as well.
Many individual are just not cut out to run their own business. It's not in their make-up and that's OK. But, this makes the failure rate randomly high. I have no way of proving this but the failure rate of people who really apply themselves and have a success-oriented outlook is much lesser than 97%. Possibly lower than 50%.
An additional contributing reason is "The grass is always greener on the other side". This statement is rarely factual. I've learned this hard-way all through the years in my offline business life. The solution is to find a business opportunity, or some, that you believe in and that are legitimate, and work those programs. If you don't recognize how to market, study. That's what I'm doing with MLM Lead System Pro. I have been in sales and marketing for my entire 20 plus year career. Online network marketing is lively and we all have to learn as much as we can and apply what we study in our marketing efforts. If you educate yourself constantly, you will understand more than 95% of your rivalry. Many people are either overwhelmed or too lethargic (sorry) to apply themselves.
Then, it is the sponsor's job to relay this information onto their members. I have been engaged in a few business opportunities where I never hear from my sponsor. These people will never be thriving. Regardless of what your experience level, you have to educate, guide, and motivate your downline. Sometimes this could be hard because they are not receptive but you still have to do it. This will come back to you ten-fold since your message will reverberate with some.
Basically, it is my view that the failure rate in network marketing is increased by the people who shouldn't be in the business to begin with. With a negative view, there is no way to be successful. Without looking out and following a verified system there is no way to be thriving. For those who are giving true effort, and consistently educating themselves, I assure you that there is light at the end of the tunnel. Do not give up since this is a great business with heaps of room for everybody who wants to succeed. And make the lifestyle that they've always dreamed of.
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